[144] ARS Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) filed a Form 144 reporting a proposed sale of 12,500 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $187,500.00. The filing lists 98,826,337 shares outstanding and indicates the approximate date of sale as 08/21/2025 on the NASDAQ.

The securities were acquired on 08/21/2025 by stock option exercise from the issuer, and payment was made in cash on the same date. No other securities sales in the past three months were reported and no additional narrative or signatory details are provided in the filing.

Insights

Securities Analyst

TL;DR: Insider-originated block of 12,500 shares proposed for sale after exercising options; small relative size versus outstanding shares.

The filing documents a planned market sale executed through a major broker for an aggregate value of $187,500, with the shares acquired by option exercise on the same date as the proposed sale. The filing does not identify the selling person's relationship to the issuer or provide reasons for the sale. Given the reported outstanding share count of 98,826,337, the position is numerically small relative to total equity, suggesting limited market impact based on size alone.

Corporate Governance Expert

TL;DR: Form 144 shows a routine Rule 144 notice tied to an option exercise; disclosure is limited and contains standard representations.

The notice includes the required representation that the seller is unaware of undisclosed material adverse information and indicates the trade will proceed under Rule 144. There is no disclosure of any trading plan, 10b5-1 reliance date, or signature details in the provided text, which limits assessment of compliance timing or intent.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	12500	187500.00	98826337	08/21/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/21/2025	Stock Option Exercise	ISSUER			12500	08/21/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)